HBW Advisory Services LLC Has $2.72 Million Stock Position in 3M (NYSE:MMM)

HBW Advisory Services LLC boosted its position in 3M (NYSE:MMM) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,086 shares of the conglomerate’s stock after purchasing an additional 312 shares during the period. HBW Advisory Services LLC’s holdings in 3M were worth $2,722,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after purchasing an additional 20,421 shares during the last quarter. Franklin Resources Inc. lifted its stake in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Ballentine Partners LLC lifted its stake in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares during the last quarter. Stonegate Investment Group LLC lifted its stake in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Finally, True Vision MN LLC acquired a new stake in 3M in the 2nd quarter valued at about $512,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MMM has been the subject of several research reports. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Finally, Barclays cut their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.33.

3M Price Performance

3M stock traded down $3.45 during mid-day trading on Friday, reaching $131.08. The company had a trading volume of 2,219,753 shares, compared to its average volume of 3,140,604. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $71.38 billion, a P/E ratio of 16.55, a P/E/G ratio of 2.15 and a beta of 0.95. The business has a fifty day simple moving average of $130.44 and a 200 day simple moving average of $126.11.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter last year, the business posted $2.68 earnings per share. The company’s quarterly revenue was down 24.3% on a year-over-year basis. On average, equities research analysts predict that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.14%. 3M’s dividend payout ratio is currently 35.35%.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.